Economic Effects of COVID-19 Containment Measures
Person/Institution:
Publisher:
International Monetary Fund
Ort:
Washington, D.C
Date:
2020
Language:
Englisch
Additional information
Abstract:
Containment measures are crucial to halt the spread of the 2019 COVID-19 pandemic but entail large short-term economic costs. This paper tries to quantify these effects using daily global data on real-time containment measures and indicators of economic activity such as Nitrogen Dioxide (NO2) emissions, flights, energy consumption, maritime trade, and mobility indices. Results suggest that containment measures have had, on average, a very large impact on economic activity-equivalent to a loss of about 15 percent in industrial production over a 30-day period following their implementation. Using novel data on fiscal and monetary policy measures used in response to the crisis, we find that these policy measures were effective in mitigating some of these economic costs. We also find that while workplace closures and stay-at-home orders are more effective in curbing infections, they are associated with the largest economic costs. Finally, while easing of containment measures has led to a pickup in economic activity, the effect has been lower (in absolute value) than that from the tightening of measures
Object text:
Pragyan Deb, Davide Furceri, Jonathan Ostry, Nour Tawk
Access and usage options
Administrative details
Created:
2023-04-13
Last changed:
2023-03-10
Added to portal:
2023-04-13
Feedback
Our data sets are in constant development. If you have additional information about this object or discovered an error, please write to us. Information on privacy policy
Ähnliche Objekte
Entdecken Sie ähnliche Objekte. Über die Datenfelder können Sie die Objekte auswählen, die Sie interessieren. Sie können Ihre Suchfilter beibehalten oder deaktivieren.
Suchfilter berücksichtigen
-
Language:
- 166554